MIRA
INFORM REPORT
|
Report Date : |
09.07.2011 |
IDENTIFICATION DETAILS
|
Name : |
KREMOINT PHARMA PRIVATE LIMITED |
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Registered
Office : |
Shree Krishna Darshan, 151/5 Garodia Nagar, Ghatkopar (East), Mumbai
400 077, |
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Country : |
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Financials (as
on) : |
31.03.2009 |
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Date of
Incorporation : |
12.05.1992 |
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Com. Reg. No.: |
11-66737 |
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Capital
Investment / Paid-up Capital : |
Rs.0.600 million |
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CIN No.: [Company Identification
No.] |
U24230MH1992PTC066737 |
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|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMK05289E |
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|
Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufacturer and Exporter of Cream Ointment and Gel |
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No. of Employees
: |
100 Approximately |
RATING & COMMENTS
|
MIRA’s Rating : |
B (27) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 93000 |
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|
Status : |
Moderate |
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Payment Behaviour : |
Unknown |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having moderate track. The
management of the company has not filed its latest financial to the
Government Department. Trade relations are reported as fair. Business is
active. Payments are unknown. The company can be considered for business dealings with some
cautions. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – April 1, 2010
|
Country Name |
Previous Rating (31.12.2009) |
Current Rating (01.04.2010) |
|
|
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
INFORMATION PARTED BY (GENERAL DETAILS)
|
Name : |
Ms. Lavania |
|
Designation : |
Marketing Manager |
|
Contact No. : |
91-251-2620273 |
|
Date : |
04.07.2011 |
LOCATIONS
|
Registered Office : |
Shree Krishna Darshan, 151/5 Garodia Nagar, Ghatkopar (East), Mumbai
400 077, |
|
Tel. No.: |
91-251-2621363 / 64 / 67 / 5652436 |
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Fax No.: |
91-251-2621363 / 64 / 67 |
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E-Mail : |
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Website : |
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Area : |
15000 Sq. ft. |
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Location : |
Owned |
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|
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|
Factory : |
Ploat No. B-8, Additional Ambernath, M.I.D.C., Opposite Main Road Anand
Nagar Police Check Post, Ambernath (E), Mumbai 421506, Maharashtra, India |
|
Tel. No.: |
91-251-2620273 / 355 / 655 / 2621363 / 64 / 67 / 2620655 / 2620355 |
|
Fax No.: |
91-2621363 / 365 / 367 / 2620273 / 355 / 655 |
|
Area : |
12000 sq.ft |
|
Location : |
Leased |
DIRECTORS
As on 30.09.2010
|
Name : |
Mr. Bhadresh Keshavji Thakkar |
|
Designation : |
Director |
|
Address : |
151/5 Shree Krishna Nagar, Garodia Nagar, Ghatkopar, Mumbai – 400 077,
|
|
Date of Birth/Age : |
07.12.1964 |
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Qualification : |
B.Com |
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Date of Appointment : |
12.05.1992 |
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DIN No. : |
00774787 |
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|
|
|
Name : |
Mr. Ashwin Keshavji Thakkar |
|
Designation : |
Director |
|
Address : |
E 405/406, |
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Date of Birth/Age : |
17.07.1960 |
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Qualification : |
B. Tech |
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Date of Appointment : |
12.05.1992 |
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DIN No. : |
00774807 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2010
|
Names of Shareholders |
|
No. of Shares |
|
Ashwin K Thakkar |
|
1410 |
|
Bhadresh Thakkar |
|
1990 |
|
Jyoti Ashwain Thakkar |
|
660 |
|
Hema Bhadresh Thakkar |
|
1210 |
|
Monil Ashwin Thakkar |
|
730 |
|
Total |
|
6000 |
As on 30.09.2010
|
Equity Share Breakup |
|
Percentage of Holding |
|
Category |
|
|
|
Directors
or relatives of directors |
|
100.00 |
|
Total |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Exporter of Cream Ointment and Gel |
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|
|
|
Products : |
·
Ointments and Cream and Gel Formulations ·
Burns and Antiseptic Formulations ·
Pharmaceutical Formulations ·
Analgesic Formulations ·
Antiseptic / Antibactrial Formulations ·
Antifunagal Formulations ·
Acne Pimples Formulations ·
Corticosteroid / Antibactrial
Formulations ·
Corticosteroid/Antibactrial/Antifungal
Formulation |
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Exports : |
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Products : |
Cream, Ointment and Gel |
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Countries : |
All Over World |
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Terms : |
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Selling : |
Cash and Credit |
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Purchasing : |
Cash and Credit |
GENERAL INFORMATION
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No. of Employees : |
100 Approximately |
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Bankers : |
·
The Bharat Co Operative Bank (Mumbai) Limited Ghatkopar (West) Branch, 103 to 106, Jyoti
Chambers, 1st Floor, Junction of J V Road, and Hirachand Desai
Road, Mumbai - 400 086, Maharashtra, India
·
ICICI Bank ·
HDFC Bank |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
N M Associates Chartered Accountant |
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Address : |
1, Tarlika, Ground Floor, |
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Tel No. : |
91-22-24141274 / 24144110 |
CAPITAL STRUCTURE
As on 30.09.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
24000 |
Equity Shares |
Rs. 100 each |
Rs.2.400 millions |
|
1000 |
Preference Shares |
Rs. 100 each |
Rs. 0.100 million |
|
|
Total |
|
Rs. 2.500
millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
6000 |
Equity Shares |
Rs. 100 each |
Rs.0.600
million |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
|
31.03.2008 |
||
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
0.600 |
0.600 |
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|
2] Share Application Money |
|
0.000 |
0.000 |
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|
3] Reserves & Surplus |
|
22.629 |
20.069 |
|
|
4] (Accumulated Losses) |
|
0.000 |
0.000 |
|
|
NETWORTH |
|
23.229 |
20.669 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
9.334 |
4.185 |
|
|
2] Unsecured Loans |
|
10.880 |
8.879 |
|
|
TOTAL BORROWING |
|
20.214 |
13.064 |
|
|
DEFERRED TAX LIABILITIES |
|
0.000 |
0.000 |
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|
|
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|
|
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TOTAL |
|
43.443 |
33.773 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
|
24.599 |
24.260 |
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Capital work-in-progress |
|
0.000 |
0.000 |
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INVESTMENT |
|
0.225 |
0.225 |
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|
DEFERREX TAX ASSETS |
|
0.000 |
0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
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|
Inventories |
|
11.153 |
21.986 |
|
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Sundry Debtors |
|
14.893 |
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|
|
Cash & Bank Balances |
|
0.081 |
|
|
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Other Current Assets |
|
0.000 |
|
|
|
Loans & Advances |
|
7.052 |
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Total
Current Assets |
|
33.179 |
21.986 |
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|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
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|
Sundry Creditors |
|
8.143 |
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|
|
Other Current Liabilities |
|
4.098 |
|
|
|
Provisions |
|
2.319 |
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Total
Current Liabilities |
|
14.560 |
12.738 |
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|
Net Current Assets |
|
18.619 |
9.248 |
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|
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|
|
MISCELLANEOUS EXPENSES |
|
0.000 |
0.000 |
|
|
|
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|
|
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TOTAL |
|
43.443 |
33.773 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
|
|
31.03.2009 |
|
|
|
PROFIT BEFORE
TAX |
|
|
3.891 |
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|
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|
Less |
TAX |
|
|
1.155 |
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PROFIT AFTER TAX
|
|
|
2.736 |
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Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
|
|
0.000 |
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Less |
APPROPRIATIONS |
|
|
|
|
|
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Proposed Dividend |
|
|
0.150 |
|
|
|
Dividend Distribution Tax |
|
|
0.025 |
|
|
|
Transfer to General Reserve |
|
|
0.100 |
|
|
BALANCE CARRIED
TO THE B/S |
|
|
2.461 |
|
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|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
|
|
456.00 |
|
KEY RATIOS
|
PARTICULARS |
|
|
31.03.2009 |
31.03.2008 |
|
Return on Total Assets (PBT/Total Assets} |
(%) |
|
6.73 |
NA |
|
|
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Return on Investment (ROI) (PBT/Networth) |
|
|
0.17 |
NA |
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|
Debt Equity Ratio (Total Liability/Networth) |
|
|
1.50 |
1.25 |
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|
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|
Current Ratio (Current Asset/Current Liability) |
|
|
2.28 |
1.73 |
LOCAL AGENCY FURTHER INFORMATION
FORM 8
|
Corporate identity number of the company |
U24230MH1992PTC066737 |
|
Name of the company |
KREMOINT PHARMA PRIVATE LIMITED |
|
Address of the registered office or of the principal place of business in |
Shree Krishna Darshan, 151/5 Garodia Nagar, Ghatkopar (East), Mumbai
400 077, |
|
This form is for |
Modification of charge |
|
Type of charge |
Any interest in immovable property |
|
Particular of charge holder |
The Bharat Co Operative Bank (Mumbai) Limited Ghatkopar (West) Branch, 103 to 106, Jyoti Chambers, 1st
Floor, Junction of J V Road, and Hirachand Desai Road, Mumbai - 400 086,
Maharashtra, India |
|
Nature of instrument creating charge |
Memorandum of Entry Recording the Continuation of Deposit of Title
Deeds |
|
Date of instrument Creating the charge |
29.01.2011 |
|
Amount secured by the charge |
Rs.25.000 millions |
|
Brief of the principal terms an conditions and extent and operation of
the charge |
Rate of interest Interest Rate or such other rate as agreed between the Borrower
Company and the Bank from Time to time. Penal Interest in addition to agreed
rate in case of default. Terms of repaymen Repayment, as agreed between the Borrower Company and the Bank from
time to time. Margin Margin, as agreed between the Borrower Company and the Bank from time
to time. Extent and operation of the charge At the request of the Borrower Company the Bank has enhanced the
overall Banking Limit from Rs.15.000 millions to Rs.25.000 millions (CC
- Rs.15.000 millions and PCL Rs.10.000
millions) against Mortgage of Leasehold Rights of Plot No. B-8, Adm. 1140
meters in the Additional Ambernath Indl. Area, Village Limits : Ambernath,
Taluka and Total Charge Stands Modified from Rs.15.000 millions to Rs.25.000
millions. |
|
Short particulars of the property charged (Including location of the
property) |
Mortgage of Leasehold Rights of Plot No. B-8, Adm. 1140 meters in the
Additional Ambernath Indl. Area, Village Limits : Ambernath, Taluka and |
|
Particulars of the present modification |
At the request of the Borrower Company the Bank has enhanced the
overall Banking Limit from Rs.15.000 millions to Rs.25.000 millions (CC
- Rs.15.000 millions and PCL Rs.10.000
millions) against Mortgage of Leasehold Rights of Plot No. B-8, Adm. 1140
meters in the Additional Ambernath Indl. Area, Village Limits : Ambernath,
Taluka and Total Charge Stands Modified from Rs.15.000 millions to Rs.25.000
millions. |
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts,
1] INFORMATION ON
DESIGNATED PARTY
No records exist designating subject or any of its beneficial owners,
controlling shareholders or senior officers as terrorist or terrorist organization
or whom notice had been received that all financial transactions involving
their assets have been blocked or convicted, found guilty or against whom a
judgement or order had been entered in a proceedings for violating
money-laundering, anti-corruption or bribery or international economic or
anti-terrorism sanction laws or whose assets were seized, blocked, frozen or
ordered forfeited for violation of money laundering or international
anti-terrorism laws.
2] Court Declaration :
No records exist to suggest that subject is
or was the subject of any formal or informal allegations, prosecutions or other
official proceeding for making any prohibited payments or other improper
payments to government officials for engaging in prohibited transactions or
with designated parties.
3] Asset Declaration :
No records exist to suggest that the property or assets of the subject
are derived from criminal conduct or a prohibited transaction.
4] Record on Financial
Crime :
Charges or conviction
registered against subject: None
5] Records on Violation of
Anti-Corruption Laws :
Charges or
investigation registered against subject: None
6] Records on Int’l
Anti-Money Laundering Laws/Standards :
Charges or
investigation registered against subject: None
7] Criminal Records
No
available information exist that suggest that subject or any of its principals
have been formally charged or convicted by a competent governmental authority
for any financial crime or under any formal investigation by a competent government
authority for any violation of anti-corruption laws or international anti-money
laundering laws or standard.
8] Affiliation with
Government :
No record
exists to suggest that any director or indirect owners, controlling
shareholders, director, officer or employee of the company is a government
official or a family member or close business associate of a Government
official.
9] Compensation Package :
Our market
survey revealed that the amount of compensation sought by the subject is fair
and reasonable and comparable to compensation paid to others for similar
services.
10] Press Report :
No press reports / filings exists on
the subject.
CORPORATE GOVERNANCE
MIRA INFORM as part of its Due Diligence do provide comments on Corporate
Governance to identify management and governance. These factors often have been
predictive and in some cases have created vulnerabilities to credit
deterioration.
Our Governance Assessment focuses principally on the interactions
between a company’s management, its Board of Directors, Shareholders and other
financial stakeholders.
CONTRAVENTION
Subject is not known to have contravened any existing local laws,
regulations or policies that prohibit, restrict or otherwise affect the terms
and conditions that could be included in the agreement with the subject.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.44.33 |
|
|
1 |
Rs.70.74 |
|
Euro |
1 |
Rs.63.65 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--PROFITABILIRY |
1~10 |
3 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
3 |
|
--CREDIT LINES |
1~10 |
2 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
YES |
|
--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
27 |
This score serves as a reference to assess SC’s credit risk and
to set the amount of credit to be extended. It is calculated from a composite
of weighted scores obtained from each of the major sections of this report. The
assessed factors and their relative weights (as indicated through %) are as
follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend
(10%) Operational
size (10%)
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
|
71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit transaction.
It has above average (strong) capability for payment of interest and
principal sums |
Large |
|
56-70 |
A |
Financial & operational base are regarded healthy. General
unfavourable factors will not cause fatal effect. Satisfactory capability for
payment of interest and principal sums |
Fairly Large |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively below
average. |
Small |
|
11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with
full security |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
- |
NB |
New Business |
- |
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.